Exact Sciences Co. (NASDAQ:EXAS) Stock Holdings Lowered by Sofinnova Investments Inc.

Sofinnova Investments Inc. trimmed its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 20.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,828 shares of the medical research company’s stock after selling 47,653 shares during the period. Sofinnova Investments Inc. owned about 0.10% of Exact Sciences worth $7,682,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EXAS. Dimensional Fund Advisors LP grew its holdings in shares of Exact Sciences by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 695,542 shares of the medical research company’s stock worth $51,466,000 after acquiring an additional 24,259 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Exact Sciences by 5.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,901 shares of the medical research company’s stock worth $1,102,000 after buying an additional 759 shares during the period. Quadrant Capital Group LLC lifted its stake in Exact Sciences by 36.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,230 shares of the medical research company’s stock valued at $91,000 after buying an additional 330 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Exact Sciences by 24.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 12,491 shares of the medical research company’s stock worth $924,000 after buying an additional 2,420 shares during the period. Finally, Norges Bank purchased a new position in shares of Exact Sciences in the fourth quarter worth approximately $120,308,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

EXAS stock opened at $69.48 on Tuesday. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of -52.64 and a beta of 1.26. The firm has a 50 day moving average of $55.37 and a two-hundred day moving average of $55.52. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same quarter in the prior year, the company posted ($0.45) EPS. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI reduced their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. BTIG Research decreased their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Piper Sandler lifted their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Stifel Nicolaus reduced their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Benchmark lowered their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.